Primerica (NYSE:PRI) Shares Up 0.4% – Still a Buy?

Primerica, Inc. (NYSE:PRI)’s share price rose 0.4% during mid-day trading on Monday . The company traded as high as $278.87 and last traded at $277.57. Approximately 17,938 shares traded hands during trading, a decline of 84% from the average daily volume of 110,745 shares. The stock had previously closed at $276.40.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRI. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Primerica currently has an average rating of “Hold” and an average target price of $296.33.

Primerica Stock Up 0.3 %

The company’s fifty day moving average price is $286.27 and its 200-day moving average price is $266.41. The stock has a market capitalization of $9.25 billion, a PE ratio of 21.17 and a beta of 1.11.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the company posted $4.28 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. Primerica’s dividend payout ratio is currently 27.50%.

Primerica announced that its board has approved a share buyback plan on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Primerica

A number of large investors have recently added to or reduced their stakes in PRI. Everence Capital Management Inc. purchased a new position in shares of Primerica in the 4th quarter worth $228,000. GAMMA Investing LLC grew its stake in shares of Primerica by 14.9% during the 4th quarter. GAMMA Investing LLC now owns 1,128 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 146 shares during the period. Forthright Family Wealth Advisory LLC purchased a new stake in shares of Primerica during the 3rd quarter valued at about $202,000. Wilmington Savings Fund Society FSB bought a new position in shares of Primerica in the 3rd quarter worth approximately $336,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Primerica by 21.3% in the third quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider’s stock worth $1,493,000 after buying an additional 990 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Company Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.